Worries on inflation overshadow the strength of the recovery

ARGENTINA - Report 18 Oct 2021 by Domingo Cavallo

In the weeks immediately before the primary elections, the government thought that a stronger-than-expected economic recovery would favor its electoral chances. But the results proved otherwise as inflation overshadowed the strength of economic recovery. In spite of the clear evidence that inflation is being fueled by monetary expansion, the government is increasing public expenditures at a faster velocity and is trying to contain inflation with additional price and exchange controls. In the minds of the Vice President and her associates, this strategy is intended to change the electoral results on the actual election scheduled for November 14. But so far, opinion polls show that this may not happen.

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